Forex ABC Pattern Trading Strategy
From the Old Kings archive: Forex ABC Pattern Trading Strategy, an indicator for MetaTrader 4. Judging by its name, it is built around candlestick patterns. In the code it works with Bollinger Bands. It draws arrows on the chart and can send alerts. It has 23 settings, for example downcolor (default Red), upcolor (default Green) and faildncolor (default DarkSalmon). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 6 indicator files with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About Forex ABC Pattern Trading Strategy
Forex ABC Pattern Trading Strategy is an indicator for MetaTrader 4 based on Bollinger Bands. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 23 settings, such as Downcolor, Upcolor and Faildncolor. MQL source code included.
Files in the download: 123PatternsV6.ex4, abc pattern or the 123 chart pattern.tpl, FiboPiv_v2.ex4, FiboPiv_v2.mq4, installation manual.txt, show123v2.mq4, TheTurtleTradingChannel.ex4, TheTurtleTradingChannel.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Downcolor | Red | Colour on the chart |
| Upcolor | Green | Colour on the chart |
| Faildncolor | DarkSalmon | Colour on the chart |
| Failupcolor | DarkSeaGreen | Colour on the chart |
| Bbreakcolor | DodgerBlue | Colour on the chart |
| Maxbars | 500 | |
| Aggression | 1 | |
| Behaviourswitches | 259 | 1+2+256; |
| Rejectifheightlessthan | 15 | |
| Targetpercent123 | 100 | |
| Targetstart123 | 2 | |
| Showrosshooks | true | |
| Fontname | Arial Black | |
| Fontsize | 8 | |
| Pip text height | 0 | |
| Showbandbreaks | false | |
| Onlyshow1stbreak | true | |
| Bandperiod | 20 | Period or timeframe used by the calculation |
| Banddev | 2.0 | |
| Trade period | 20 | Donchian channel period for trading signals |
| Stop period | 10 | Donchian channel period for exit signals |
| Strict | false | Apply strict entry parameters like the Turtles did |
| Display alerts | false | You know... |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Buy/Sell Arrows · Alerts · Bollinger Bands · MT4 Indicator · MQL4 Source Code